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Old Mutual reports 41% rise in annual profits

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South Africa-based Old Mutual reported a 41% rise in annual profit on Tuesday, but shares in the insurer fell by more than 2% as it raised provisions to cover higher-than-expected claims linked to Covid-19 deaths.

Headline earnings per share, the main profit measure in South Africa, rose to 163.8 cents last year from 116.1 cents a year earlier.

15 Mar 2022 5AM English South Africa Business News · Investing

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